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Weekly Update - Layer 1 & Layer 2 News (Week 51, 21/12/2021 - 27/12/2021)

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Crypto.com Research | Layer 1 & Layer 2 Update

Weekly Update - Layer 1 & Layer 2 News (Week 51, 21/12/2021 - 27/12/2021)

BTC miner revenues grow 2x in 2021 to $15B. Cronos (CRO) climbs further: +25.81% in TVL gains, +15.05% in transactions, +12.43% in wallet addresses.

Crypto.com
Dec 28, 2021
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Weekly Update - Layer 1 & Layer 2 News (Week 51, 21/12/2021 - 27/12/2021)

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Key Takeaways

  • Bitcoin (BTC) miners made more than $15 billion in revenues throughout 2021, according to The Block Research. The estimate represents a year-over-year increase of 206%. (ref)

  • Fantom (FTM) witnessed a rapid upsurge in total value locked (TVL) in all active dApp protocols. With its $5.6 billion in TVL, Fantom surpassed veteran smart contracts platform Tron (TRX). Price increases for tokens such as FTM, BOO, and TOMB also contributed to the upswing. (ref)

  • Crypto.com buys ad space for the Super Bowl 2022. The Super Bowl – the most important event in American football – will be held in February 2022. For reference, the 2021 Super Bowl had 96.4 million viewers. (ref)

  • Tectonic (TONIC), one of the first lending protocols on Cronos, has launched on 23 December, reaching a TVL of $193.88M and a total borrow amount of $328.80M as of 28 December 2021. Users can now supply and borrow assets on Tectonic to earn TONIC rewards. (ref)

  • Cronos (CRO) saw a +15.05% increase in total transactions to 8.56M and an increase of TVL to $1.93B ( +25.81% week-on-week). The total number of wallet addresses now stands at 274,007, up +9.91% from last week.

Highlights

  • Ethereum launches Kintsugi public testnet ahead of move to proof-of-stake

  • DeFi traders push Terra’s UST stablecoin to $10B market cap

  • Opera partners with Polygon to integrate Ethereum dApps into browser

  • StarkWare unveils Ethereum Layer 3 ‘hyper-scaling’

  • US renewable energy services provider to build $2.4 billion data center with Bitcoin mining

  • Binance burns 1.335 million BNB, replaces quarterly burns with BNB auto-burns

  • Avalanche ($AVAX) starts trading on Kraken as on-chain activity skyrockets

  • Here's how Polygon is challenging the limitations of Ethereum, as told by co-founder Sandeep Nailwal

  • Number of Cardano's wallets grow over 1,200% from last Christmas

  • Over $120 billion pours into crypto market in a day as Bitcoin reclaims $51k

  • Terra (LUNA) surpasses $35,000,000,000 market cap, soaring 123% in 30 days

  • Terra's Mirror protocol warns community against governance attack

‡ Accurate as of end of November report
Sources: Coingecko, Etherscan,Ethernodes, Terra Station, Terra Etherscan, Avascan, Solana Beach, FTMscan, BSCscan,Cronos Explorer, DeFi Llama
Sources:  DeFi Llama, Polyscan, Clark Moody Bitcoin, 1ML, Ronin Explorer, Coingecko, Optimistic Etherscan, Arbiscan, Boba Explorer

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Weekly Update - Layer 1 & Layer 2 News (Week 51, 21/12/2021 - 27/12/2021)

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